On Thursday the worlds most powerful man and the first lady has been tested positive of the coronavirus on the final weeks of the election campaign ahead of the November battle.
The news came to light after the announcement that the senior aide Hope Hicks came down with the virus after traveling with the president several times this week. Trump is 74 years old, putting him at higher risk of serious complications from a virus that has now killed more than 200,000 people nationwide.
The positive news also took a hit into the economy at large, worrying the investors how it will affect the upcoming 3rd November election between the democratic and the Republic . US stock futures and Asian shares dips in the wake of the news. The Future contract of both the S&P 500 and the Dow industries lost 1.9%. Oil price oil and copper prices plunged today. Stock price of Japan and Australia also tumbled.
However, the gold price today jumped in global markets after US President Donald Trump announced that he and First Lady Melania Trump have tested positive for Covid-19 with barely one month left until the presidential election. Spot gold traded 0.4% higher at $1,913.90 an ounce, recovering from earlier loss of 0.8%. Silver prices jumped 0.9% to $23.9992 an ounce, also recovering from a 1.3% loss.
While there is currently no evidence that Trump’s health issue after the news, the positive test also raises questions about what would happen if he were to become incapacitated due to illness. The Constitution’s 25th Amendment spells out the procedures under which a president can declare themselves “unable to discharge the powers and duties” of the presidency. If he were to make that call, Trump would transmit a written note to the Senate president pro tempore, Republican Sen. Chuck Grassley of Iowa, and House Speaker Nancy Pelosi, D-Calif. Pence would serve as acting president until Trump transmitted “a written declaration to the contrary.”
The vice president and a majority of either the Cabinet or another body established by law can also declare the president unable to discharge the powers and duties of his office, in which case Pence would “immediately assume the powers and duties of the office as Acting President” until Trump could provide a written declaration to the contrary.